ACME Solar shares gain 3% after Q2 profit more than doubles; capacity targets raised

Shares of ACME Solar Holdings Ltd. were trading over 3% higher on Thursday, October 29, after the company reported a sharp rise in its Q2 FY27 profit, driven by higher revenue and the addition of battery energy storage system (BESS) capacity. The company also raised its commissioning target for BESS capacity for FY27 and increased its renewable energy generation capacity target for 2030. ACME Solar reported total revenue of ₹1,007 crore for the quarter, up 67.5% from ₹601 crore a year earlier.

EBITDA rose 63.6% year-on-year to ₹874 crore from ₹534 crore, while the EBITDA margin stood at 86.7%, compared with 88.8% in the year-ago quarter. Net profit more than doubled, rising 133.5% year-on-year to ₹269 crore from ₹115 crore. The company attributed the topline growth to battery energy storage systems and additions to its renewable energy capacity.

ACME Solar commissioned around 2.1 GWh of BESS capacity during the quarter, taking its cumulative commissioned capacity to approximately 5.2 GWh. The company said it has secured revenue visibility of over ₹1,600 crore through the partial sale of its FY27 BESS capacity under short-term contracts. It has also locked in more than ₹1,500 crore in revenue from the partial sale of its FY28 BESS capacity so far, with the remaining capacity expected to be tied up through future bids.

ACME Solar has raised its cumulative BESS commissioning target for FY27 to more than 12 GWh, from its earlier target of 10 GWh. It has also increased its renewable energy generation capacity target for 2030 to 15 GW from 10 GW. Tags Home / Market News / ACME Solar shares gain 3% after Q2 profit more than doubles; capacity targets raised

Source: CNBC TV18